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Why Managers Should Train More with AI Devices and Intelligent Virtual Assistants

A team that trains together wins together!

Did you know that more than 80% of routine managerial chores can be handled by chatbots and AI-based automation tools! According to IBM, businesses can save up to$8 billion annually by deploying chatbots. With intelligent virtual agents, businesses could expect 90% success rate in their customer delivery models.

Productive teams are increasingly turning lean with their human resources and fattening on technologies, especially automation and machine-level intelligence. Today, it’s hard to tell where the lines of interaction blur between managers and their resources – man, machine, money, and material. Yet, there exists a certain dichotomy in the ways modern businesses are adopting machine learning across all departments.

Accenture-Managers-Machine-2
via Accenture

AI is a great disruption for everyone, especially if you are running a stiff business model. Most company leaders are unsure how to work with AI and how AI can improve or first into their current business model. Like all things that are hard, they can focus on training themselves first.

Here are few omnipotent reasons why business leaders should train together with AI devices and virtual assistants to embrace change – a change that is arriving at a blitzkrieg pace.

Working with AI Makes You Look Smarter, Deliver Better

AI, by virtue of its math-based background and measurable benefits, is everywhere. A report by MIT Sloan in September 2017 stated how AI helped and empowered large-sized companies to solve numerous problems more quickly and efficiently than previous approaches. Not just efficiency and speed, AI also strengthened businesses to stay bullish on adoption of newer, smarter technologies that directly open up new fields to develop and further automate business processes that never existed before.

In short, AI makes any business, especially pioneers, look savvy and reliable as far as measuring results are concerned.

AI is Unbiased, Unrelenting at Work

Humans, by nature, come with their own share of biases and preferences. Can’t help there, can we!!! And, then there is fatigue, mental, physical and emotional. AI-based automation is driving a sea-change in digital transformation journeys, powered by data and analytics. Given the kind of data that human managers deal with today, it’s “humanly” impossible to arrive at a verifiable result in minutes, if not seconds. Your options are AI devices, supercomputers, and virtual computing assistants.

Accenture-Managers-Machine-1
via Accenture

According to a recent Accenture report on AI redefining the workforce management in the future, AI-assisted analytics, simulation, and hypothesis testing would help managers turn more productive, especially when it comes to making interpersonal and judgment calls.

AI can Turn Laggards into Leaders

MIT Sloan and BCG tried to demystify the role of AI in businesses and the gaps between ambition and execution of processes at companies. The report stated that nearly 75% of the respondents agreed that adopting AI and working with intelligent assistants have the potential to help executives move to new businesses. Though large companies are most likely to have an AI strategy in place, the realities are different. Souring AI talent is a huge hurdle. But, humans can be trained. Using AI training tools, these laggards can be turned into leaders to deal with unstructured data, text mining, and analyzing enormous quantities of transaction data, etc. in a more strategic manner.

via BCG
via BCG

With AI devices and virtual assistants, nearly every company has the opportunity to build a competitive foundation and shape value around AI and automation.

Quicker Resolution and a Better Customer Experience

Customers govern business decisions. If we understand what a customer is thinking and wants, it’s easier to route all resources and information to satisfy the customer. That’s where assistants come into the picture. Domain-specific virtual intelligent assistants like IBM Watson Assistant and Interactive Voice Response Systems (IVR), help companies explore all possible advanced IoT-related solutions to better understand, interact with, and deliver to customers. Working with voice-to-text assistants could further help managers to improve team collaboration, and solve IT-related tasks quickly.

Sail through Post-GDPR Era with AI

GDPR is a raging topic for businesses. Though restricted to operations in Europe, most global companies are not taking any chances with GDPR and the compliance standards. Today, organizational processes must prove their adherence to data governance and ensure legal routes are in order to obtain consent on individual data.

In a GDPR-focused article, Kalliopi Spyridaki, Chief Privacy Strategist at SAS Europe, said, “Ensuring data quality, addressing algorithmic biases, and applying and improving methods around code interpretability that help reconstruct the algorithm can all play a key role in the fair and ethical use of AI.”

In an interview with Vectra’s CTO, Oliver Tavakoli, we discussed how AI plays a great role in cybersecurity. Oliver told us about Cogito that has been “constructed from the ground up with the single-minded goal of finding advanced cyber-attackers who have already established some foothold inside an organization’s network.”

Oliver added, “Cognito uses both supervised and unsupervised machine learning approaches to detect cyber-attacker behavior rather than trying to recognize the exact tools that an attacker may employ at a point-in-time.”

Impressive isn’t it!

We collect a large set of metadata from organizations’ networks and augment it with key information from their logs to produce a unique dataset that gives insight into almost all attacker behaviors which utilize the network to accomplish a goal.

Human involvement in data collection and processing would drastically reduce, freeing managers from the anxiety of dealing with GDPR-related breaches.

According to Vectra, using AI and virtual intelligent assistants could ensure stricter data enforcement standards by automatically alerting cybersecurity staff and data protection teams about violations and deviations from the established practices.

Imagine the relief when you can conveniently rely on AI and intelligent assistants to keep track of your GDPR path.

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